USD Index

Please find attached the monthly US Dollar report.

This is a long term, mega trend analysis.

Please find attached the requested US Dollar note.

Apologies for the somewhat ambiguous view

Dollar strength is testing both medium- and short-term target levels.

The probability of further meaningful gains from a technical analysis perspective is low, with extended market conditions at important levels.

While the view is for a bearish reversal and meaningful downside, this view will only be confirmed on breaching of stated pivots.

“Technical analysis is a probability study on future market action”

The current US Dollar bull trend is approaching respective medium-term targets against most currencies.

There is a likelihood of a trend reversal, or at the very least a meaningful correction of current Dollar strength.

US Dollar strength has exceeded our expectations and necessitated some adjustments to the medium- term outlook.

It seems that recent fundamental events have had a marked influence on the value of the Greenback.

Market behaviour and trends do not always abide by our expectations and analyses.

Besides being a lesson in humility, it also emphasizes the importance of pivotal technical levels as a disciplined investment approach.

Our longer- term bearish stance on the Greenback remains valid and is ongoing.

Recent gains have, however indicated that the 18-month-old consolidation phase remains in force, effectively postponing the larger bearish potential.

The long-term monthly analysis confirms the respective weekly views.

The US presidential election and upcoming FOMC meeting could result in volatility, but this report does not take any fundamental drivers in consideration as a purely technical outlook.

Users can overlay and include their own perceptions and analyses.

While the longer- term bearish outlook on the US currency remains valid, medium- and short-term outcomes were adjusted since last week’s report.

The alternative outcome of consolidating market action was validated by extended short term appreciation beyond pivotal levels.

Further medium - term range trading has postponed the still relevant and eventual bear trend to new lows.

The US Dollar Report for the 16th of October 2024.

The general bearish stance on USD seems to be materializing.

Important fundamental announcements and data might create a measure of volatility.

The US Currency impacts global financial markets, and it remains imperative for investors and traders to have an outlook on trend potential